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Lumax Auto Technologies profit misses consensus by 22.4% in fiscal Q1

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Lumax Auto Technologies profit misses consensus by 22.4% in fiscal Q1

Lumax Auto Technologies Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 5.51 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 7.10 rupees per share.

EPS climbed 16.8% year over year from 4.72 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 75.1 million rupees, an increase of 16.8% from 64.3 million rupees in the prior-year period.

The normalized profit margin climbed to 3.5% from 3.3% in the year-earlier period.

Total revenue increased 10.4% year over year to 2.17 billion rupees from 1.97 billion rupees, and total operating expenses rose 10.0% year over year to 2.05 billion rupees from 1.86 billion rupees.

Reported net income declined 64.8% on an annual basis to 82.3 million rupees, or 6.04 rupees per share, from 234.0 million rupees, or 17.16 rupees per share.

As of July 24, US$1 was equivalent to 64.11 Indian rupees.